IndianaHB 1191First Regular Session 124th General Assembly (2025)House

Retiring farmers tax credit.

Sponsored By: Kendell Culp (Republican)

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Summary

Provides an adjusted gross income tax credit for retired farmers who sell or lease farmland or sell livestock to a qualified beginning farmer. Defines "qualified beginning farmer" and "farmland" for purposes of the credit. Allows a taxpayer to apply to the Indiana state department of agriculture (ISDA) for approval and certification of the credit. Allows a beginning farmer to apply to the ISDA for certification as a qualified beginning farmer. Specifies the amount of the credit that may be claimed by a taxpayer. Limits the total amount of tax credits that may be awarded to $1,000,000 per state fiscal year. Sunsets the credit after six years.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Kendell Culp

    Republican • House

Cosponsors

  • Cory Criswell

    Republican • House

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Representative Criswell added as coauthor

    1/27/2025House
  2. Authored by Representative Culp

    1/8/2025House
  3. First reading: referred to Committee on Ways and Means

    1/8/2025House

Bill Text

  • Introduced House Bill (H)

Related Bills

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